(65 ILCS 5/11-65-25)
Sec. 11-65-25. Tax exemptions for existing public-facilities corporations. If, before the effective date of this amendatory Act of the 95th General Assembly, a municipality has incorporated a public-facilities corporation and the public-facilities corporation complies with the requirements set forth in Section 11-65-10, then, for all purposes: (1) No tax is imposed under the Use Tax Act, the Service Use Tax Act, the Service |
| Occupation Tax Act, or the Retailers' Occupation Tax Act upon the use or sale of tangible personal property sold to a public-facilities corporation for purposes of constructing or furnishing a municipal convention hall; and
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(2) all real property and the municipal convention hall owned by the public-facilities
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| corporation is exempt from property taxation.
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(Source: P.A. 95-672, eff. 10-11-07.)
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